The Belgian Colruyt family has become online pharmacy Newpharma’s majority shareholder. Newpharma is a Belgian online pharmacy active in both Belgium and France.
Strengthen position and European growth
When it comes to online sales for non-prescription medicine and parapharmacy products, Newpharma says it is the Belgian market leader and part of the top three in France. Through to the acquisition, the online pharmacy wants to strengthen its position in its core markets and expand its reach in other European markets. The current board will stay on and together, they target a sixty million euro turnover for the current fiscal year.
Colruyt family’s investment firm, Korys, and Colruyt Group will invest in Newpharma: “Korys and Colruyt Group’s participation will enable us to speed up our international growth and we can raise the bar very high when it comes to business ethics and our entrepreneurial vision”, CEO Jérôme Gobbesso said. “We are convinced their support can help raise the company to the next level.”
The acquisition fee was not divulged. Korys will become the main shareholder and Colruyt Group will only acquire a smaller stake. Korys has already invested in other companies, like Dutch meat replacement company Ojah and British online optician MyOptique Group.